Stock Analyst Update on Genesis Energy, L.P. (NYSE:GEL)

Genesis Energy, L.P. (NYSE:GEL) (TREND ANALYSIS) price target raised to $68 on acquisition at Credit Suisse. Credit Suisse said it is very positive on the Genesis Energy (GEL) agreement to acquire the Offshore Pipelines and Services businesses of Enterprise Products Partners (EPD). The firm said the deal is appears very accretive and raised its price target to $68 from $63 on this Outperform rated stock.

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Genesis Energy, L.P. (NYSE:GEL) stock is currently trading 21.77% below its 52-week-high, 28.72% above its 52-week-low. The 1-year stock price history is in the range of $34.57 – $56.88. Genesis Energy, L.P. (GEL) has a price to earnings ratio of 42.18 versus Basic Materials sector average of 39.76. GEL stock price has outperformed the S&P 500 by 5.2%. The Oil & Gas Midstream company is currently valued at $4.43 billion and its share price closed the last trading session at $44.5. The stock has a 50-day moving average of $46.17 and a 200-day moving average of $45.73.

Genesis Energy, L.P. (GEL) current short interest stands at 1.43 million shares. It has increased by 7% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.65 million shares, the number of days required to cover the short positions stand at 0.9 day.

The company is expected to announce next quarter earnings on July 30, at consensus estimate of $0.29. Genesis Energy, L.P. (GEL) reported last quarter earnings on April 29. The Oil & Gas Midstream company announced earnings per share of $0.21 against a consensus Street estimate of $0.34, missing estimate by $0.13. This corresponds to a flat EPS compared to the same quarter of the previous fiscal year.

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There are currently eight analysts that cover Genesis Energy, L.P. stock. Of those eight, five have a Buy rating, three have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $55.43.

A previous analyst activity consisted of Baird downgrading their Outperform rating to Neutral on May 1. Baird set their price target at $52. This corresponds to a 16.85% upside from the last closing price. On the date of report, the stock closed at $48.48.

Barclays reiterated their Equal-weight stance on April 30, and increased their price target on GEL stock from $50 to $52. This corresponds to a 16.85% upside from the last closing price. On the date of report, the stock closed at $49.71.

Another research firm was Citigroup who reiterated their Neutral stance on March 4. Citigroup increased their price target on Genesis Energy, L.P. from $46 to $49. This translates to a 10.11% upside from the last closing price. On the date of report, the stock closed at $45.19.

Company profile

Genesis Energy, L.P. operates in the midstream segment of the oil and gas industry in the Gulf Coast region of the United States. It operates through three divisions: Pipeline Transportation, Refinery Services, and Supply and Logistics. The Pipeline Transportation division is involved in the transportation of crude oil and carbon dioxide (CO2). It owns interests in 3 onshore crude oil pipeline systems with approximately 460 miles of pipe located primarily in Alabama, Florida, Mississippi, and Texas; and interests in various offshore crude oil pipeline systems with approximately 1,050 miles of pipe located offshore in the Gulf of Mexico; and interests in 2 CO2 pipelines with approximately 270 miles of pipe. The Refinery Services division engages in the processing of high sulfur gas streams to remove sulfur for refineries principally in Texas, Louisiana, Arkansas, and Utah. It also sells the related by-product sodium hydrosulfide and caustic soda to industrial and commercial companies involved in the mining of copper, molybdenum and other base metals, and in the production of pulp and paper. The Supply and Logistics division provides services primarily to Gulf Coast oil and gas producers and refineries through a combination of purchasing, transporting, storing, blending, and marketing of crude oil and refined products, such as fuel oil, asphalt, and other heavy refined products. This segment operates a suite of approximately 250 trucks, 350 trailers, and terminals and other tankage with 1.5 million barrels of storage capacity in various locations along the Gulf Coast; 50 barges with a combined transportation capacity of 1.5 million barrels of heavy refined products; and 22 push/tow boats. Genesis Energy, LLC serves as a general partner of the company. Genesis Energy, L.P. was founded in 1996 and is headquartered in Houston, Texas.

Stock Analyst Update on Genesis Energy, L.P. (NYSE:GEL) was last modified: July 19th, 2015 by Donna Crepeau